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$27 Trillion Market - Bank DLT and Blockchain Insider Claims Ripple Pivoting Away from XRP

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I am long on my relatively considerable investment in XRP. I have no plans on buying more at this point, so don't waste effort accusing me of FUD in hopes of causing a price dip to acquire more. I post what I say below because on the subject of Ripple I value the generally more informed opinions of XRPChat members over those of Reddit posters, and I'm looking for some feedback on a post I saw in the Ripple sub-Reddit.

The poster using the handle "thegtabmx" claims (i) to work for one of the larger banks on blockchain and DLT projects, (ii) implies that he participates in the bank's business meetings relating to DLT and blockchain, and (iii) implies that Ripple, the company, has pivoted to focus on Ripple technology itself to the exclusion of XRP, and argues that XRP is irrelevant.

For purposes of this discussion, I'll take him at face value that he indeed works on DLT and blockchain projects for a major bank. There is certainly some hyperbole in his statement that XRP is irrelevant, but the remainder of his comments could plausibly indicate some personal knowledge and experience relating to the bank's DLT and blockchain discussions. The main purpose of his comments is to refute the notion that Ripple and XRP have a clear path to take over and knock SWIFT out, as there is significant competition between SWIFT, Hyperledger, R3 and Ripple. I urge you to read each of the poster's comments to fully appreciate what he is saying. Link below (look for comments by "thegtabmx"):

I followed up one of his posts with a question about how he could disclose this type of information in a public forum when any such discussions would likely be subject to confidentiality agreements. No response yet.

I'm curious to know the community's thoughts on the claims he makes. Are there any XRPChat members who have personal knowledge of these types of business meetings and who are able and willing to confirm or dispel thegtabmx's comments?

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It sounds like the poster is a few months behind. Ripple had pivoted away from direct consumer facing services and public XRP offerings, focusing more on banks. With the introduction of ILP Ripple pitched its as the benefits of RCL without XRP (it's more than that, but close enough to the layman). Recently Ripple is again making noise in regards to XRP, if nothing else as a companion or better optional paring for ILP.

Your question is a correct one though, anyone with any real 'insider' knowledge would not disclose this on a public forum. Snitches and contract breakers don't get 'inside'.

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It sounds like the poster is a few months behind. Ripple had pivoted away from direct consumer facing services and public XRP offerings, focusing more on banks. With the introduction of ILP Ripple pitched its as the benefits of RCL without XRP (it's more than that, but close enough to the layman). Recently Ripple is again making noise in regards to XRP, if nothing else as a companion or better optional paring for ILP.
Your question is a correct one though, anyone with any real 'insider' knowledge would not disclose this on a public forum. Snitches and contract breakers don't get 'inside'.

I'm no expert on XRP and couldn't tell you if it is getting used or not. But I
Am good at spotting a bullsh****r and this guy on Reddit sounds like one of those. I've been expecting a comment like this guys today as negative posts are like clockwork.

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8 minutes ago, Darran01 said:


I'm no expert on XRP and couldn't tell you if it is getting used or not. But I
Am good at spotting a bullsh****r and this guy on Reddit sounds like one of those. I've been expecting a comment like this guys today as negative posts are like clockwork.

I'm good at spotting BS, too, since I do it for a living. His comments have a superficial ring of authenticity to them, but they could also be easily dispelled by someone with personal knowledge, which is why I posted here.

Do people really think that posts spreading FUD against other cryptos have the ability to move their preferred coin in a positive direction in the marketplace? I mean, someone like Vitalik may have the ability to move the market, but someone like "thegtabmx" surely does not.

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Ladies ... ladies.... Just wait.

Wait for the words of Miguel Vias... I see XRP or a portion of XRP backed by precious metals, maybe Copper or Silver.

Crypto currencies that aren't backed by physical asset or company asset won't be able to compete... And we all know Ripples backing... They just need to dip their toes in first.

 

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The young tech ex gamer millionaire day 1 guys will never be behind xrp. That why I don't usually read Reddit FUD. The purist from gaming slash early miners will always hate xrp. This is just my opinion. I watched great video of Jason King and sniper and Jason was clear on that. To me xrp a long hold play based on product quality.

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6 minutes ago, JoelKatz said:

He says this:

 

Either he doesn't understand the difference between payment and settlement or he's deliberately trying to mislead people.

Also:

Actually, we've done precisely the reverse. Just a few months ago, we didn't even have a link to XRP on our home page. Now, it's up front in all of our messaging.

Lastly:

This really makes no sense at all. We hold over 60 billion XRP with a notional value of over $20 billion, which we can sell over time at near zero cost (assuming the price and liquidity holds). You think our bank software business will be anywhere close to that any time soon? How many banks do we have to sign to get as much revenue as a 1 cent increase in the price of XRP? 100? 300?

But, of course, we don't have to choose because they both go together perfectly. Every bank that adopts our services and network is one more endpoint whose payments can settle over XRP the instant the liquidity is there.

Your presence here is much appreciated, i'll be linking this post whenever i see this particular meme. Will probably be on bitcoin talk at some point today lol

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I know it's hard and annoying, but we really HAVE TO FIGHT THE FUD. I personally can't ignore seeing people mislead other people in front of my eyes. I'm doing my part on Twitter, and I thank everyone who is doing his part (on twitter, reddit, xrpchat etc) as well. And a special thanks to @JoelKatz for taking his time, it is incredibly valuable and means a lot for XRP holders to have you.

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Guest Dizer

@interexchange

Please link @JoelKatz's response above to the Ripple sub Reddit so that this so called "insider" can see a real rebuttal.

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23 hours ago, interexchange said:

I am long on my relatively considerable investment in XRP. I have no plans on buying more at this point, so don't waste effort accusing me of FUD in hopes of causing a price dip to acquire more. I post what I say below because on the subject of Ripple I value the generally more informed opinions of XRPChat members over those of Reddit posters, and I'm looking for some feedback on a post I saw in the Ripple sub-Reddit.

The poster using the handle "thegtabmx" claims (i) to work for one of the larger banks on blockchain and DLT projects, (ii) implies that he participates in the bank's business meetings relating to DLT and blockchain, and (iii) implies that Ripple, the company, has pivoted to focus on Ripple technology itself to the exclusion of XRP, and argues that XRP is irrelevant.

For purposes of this discussion, I'll take him at face value that he indeed works on DLT and blockchain projects for a major bank. There is certainly some hyperbole in his statement that XRP is irrelevant, but the remainder of his comments could plausibly indicate some personal knowledge and experience relating to the bank's DLT and blockchain discussions. The main purpose of his comments is to refute the notion that Ripple and XRP have a clear path to take over and knock SWIFT out, as there is significant competition between SWIFT, Hyperledger, R3 and Ripple. I urge you to read each of the poster's comments to fully appreciate what he is saying. Link below (look for comments by "thegtabmx"):

I followed up one of his posts with a question about how he could disclose this type of information in a public forum when any such discussions would likely be subject to confidentiality agreements. No response yet.

I'm curious to know the community's thoughts on the claims he makes. Are there any XRPChat members who have personal knowledge of these types of business meetings and who are able and willing to confirm or dispel thegtabmx's comments?

When someone comes online and says something that would very likely fall outside of the NDAs that Financial Institutions have with Ripple, I doubt that they are even in the group of people that are actually working with Ripple. More often than not, the feeling that I get from statements like this is that the person writing it is either (i) trying to dig at those individuals who work for Ripple to disclose sensitive information, or (ii) they are trying to spread FUD. Now, curiosity is one thing: you might be confused about something and ask a question, and it can either be answered or it can't (due to NDA's with the banks). I get confused and ask questions, and more often than not I assume they aren't answered by Ripple employees because the questions I ask are probably touching on the NDA's. I figure, if they can't answer it, they won't. 

What I don't do is make statements that clearly go against what the company has consistently said about themselves, and what they are about. Why would Ripple sell themselves short by ditching XRP!? After all, they do own a significant portion of the total supply, and would probably be using said XRP for MMs, business deals and incentives. 

I regret inviting people to join XRPchat when I joined reddit. Since then, we have had an influx of people making absurd statements, who are primarily focused on the price as if the future of the product were of no consequence. I appreciate the speculators pushing us this far, truly. But I can't wait for widespread utilization to completely dispel the volatility of emotional speculation, replacing it with growth based on use-case creation and supply/demand. There is this mindset that it is "proactive" to ditch rationality in lieu of emotions. 

Save the feels. Use your head.

:good::beach: 

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